Effective PFRS Title First-time Adoption of Philippine Financial Reporting Standards [superseded by PFRS 1 (Revised)] Amendments to PFRS 1 and

PAS 27: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate Date

PFRS 1

1/1/2005

1/1/2009

PFRS 1 (Revised)

First-time Adoption of Philippine Financial Reporting Standards 7/1/2009 Amendments to PFRS 1: Additional Exemptions for Firsttime Adopters 1/1/2010 Amendment to PFRS 1: Limited Exemption from Comparative PFRS 7 Disclosures for First-time Adopters 7/1/2010 Amendments to PFRS 1: Severe Hyperinflation and Removal of Fixed Date for First-time Adopters 07/01/11* Share-based Payment Amendments to PFRS 2: Vesting Conditions and Cancellations Amendments to PFRS 2: Group Cash-settled Sharebased Payment Transactions Business Combinations [superseded by PFRS 3 (Revised)] Business Combinations Insurance Contracts Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts Non-current Assets Held for Sale and Discontinued Operations Exploration for and Evaluation of Mineral Resources Financial Instruments: Disclosures Amendments to PFRS 7: Transition Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets - Effective Date and Transition Amendments to PFRS 7: Improving Disclosures about Financial Instruments Amendments to PFRS 7: Disclosures - Transfers of Financial Assets Amendments to PFRS 7: Disclosures - Offsetting Financial Assets and Financial Liabilities Amendments to PFRS 9 and PFRS 7: Mandatory Effective Date of PFRS 9 and Transition Disclosures 1/1/2005 1/1/2009 1/1/2010 1/1/2005 7/1/2009 1/1/2005 1/1/2006 1/1/2005 1/1/2006 1/1/2007 1/1/2007 7/1/2008

PFRS 2

PFRS 3 PFRS 3 (Revised) PFRS 4

PFRS 5 PFRS 6 PFRS 7

7/1/2008 1/1/2009 7/1/2011 01/01/13*

01/01/15* 1/1/2009 1/1/2015

PFRS 8 PFRS 9

Operating Segments Financial Instruments Amendments to PFRS 9 and PFRS 7: Mandatory Effective Date of PFRS 9 and Transition Disclosures

01/01/15*

PFRS 10 PFRS 11 PFRS 12 PFRS 13 Philippine Accounting Standards (PASs)

Consolidated Financial Statements Joint Arrangements Disclosure of Interests in Other Entities Fair Value Measurement

01/01/13* 01/01/13* 01/01/13* 01/01/13*

Effective
PAS Title

Date 1/1/2005 1/1/2007 1/1/2009

PAS 1 PAS 1 (Revised)

Presentation of Financial Statements [superseded by PAS 1 (Revised)] Amendment to PAS 1: Capital Disclosures Presentation of Financial Statements Amendments to PAS 32 and PAS 1: Puttable Financial Instruments and Obligations Arising on Liquidation Amendments to PAS 1: Presentation of Items of Other Comprehensive Income

1/1/2009 07/01/12* 1/1/2005 1/1/2005 1/1/2005 1/1/2005 1/1/2005 1/1/2005 01/01/12* 1/1/2005 1/1/2005 1/1/2005 1/1/2005 1/1/2005 1/1/2006 01/01/13* 1/1/2005 1/1/2005 1/1/2006 1/1/2005 1/1/2009 1/1/2005

PAS 2 PAS 7 PAS 8 PAS 10 PAS 11 PAS 12

Inventories Cash Flow Statements1 Accounting Policies, Changes in Accounting Estimates and Errors Events after the Balance Sheet Date Construction Contracts Income Taxes Amendment to PAS 12 - Deferred Tax: Recovery of Underlying Assets Segment Reporting [superseded by PFRS 8] Property, Plant and Equipment Leases Revenue Employee Benefits Amendments to PAS 19: Actuarial Gains and Losses, Group Plans and Disclosures Employee Benefits Accounting for Government Grants and Disclosure of Government Assistance The Effects of Changes in Foreign Exchange Rates Amendment: Net Investment in a Foreign Operation
2

PAS 14 PAS 16 PAS 17 PAS 18 PAS 19

PAS 19 (Amended) PAS 20 PAS 21

PAS 23 PAS 23 (Revised) PAS 24

Borrowing Costs [superseded by PAS 23 (Revised)] Borrowing Costs Related Party Disclosures [superseded by PAS 24 (Revised)]

PAS 24 (Revised) PAS 26 PAS 27 PAS 27 (Revised)

Related Party Disclosures Accounting and Reporting by Retirement Benefit Plans Consolidated and Separate Financial Statements [superseded by PAS 27 (revised)] Consolidated and Separate Financial Statements Amendments to PFRS 1 and PAS 27: Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate Separate Financial Statements Investments in Associates Investments in Associates and Joint Ventures Financial Reporting in Hyperinflationary Economies Disclosures in the Financial Statements of Banks and Similar Financial Institutions [superseded by PFRS 7] Interests in Joint Ventures Financial Instruments: Disclosure and Presentation Financial Instruments: Presentation Amendments to PAS 32 and PAS 1: Puttable Financial Instruments and Obligations Arising on Liquidation Amendment to PAS 32: Classification of Rights Issues Amendments to PAS 32: Offsetting Financial Assets and Financial Liabilities

1/1/2011 1/1/2005 1/1/2005 7/1/2009

1/1/2009 01/01/13* 1/1/2005 01/01/13* 1/1/2005

PAS 27 (Amended) PAS 28 PAS 28 (Amended) PAS 29

PAS 30 PAS 31 PAS 32

1/1/2005 1/1/2005 1/1/2005 1/1/2007

1/1/2009 2/1/2010 01/01/14* 1/1/2005 1/1/2005 1/1/2005 1/1/2005 1/1/2005 1/1/2005

PAS 33 PAS 34 PAS 36 PAS 37 PAS 38 PAS 39

Earnings per Share Interim Financial Reporting Impairment of Assets Provisions, Contingent Liabilities and Contingent Assets Intangible Assets Financial Instruments: Recognition and Measurement Amendments to PAS 39: Transition and Initial Recognition of Financial Assets and Financial Liabilities Amendments to PAS 39: Cash Flow Hedge Accounting of Forecast Intragroup Transactions Amendments to PAS 39: The Fair Value Option Amendments to PAS 39 and PFRS 4: Financial Guarantee Contracts Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets Amendments to PAS 39 and PFRS 7: Reclassification of Financial Assets Effective Date and Transition Amendments to Philippine Interpretation IFRIC9 and PAS 39: Embedded Derivatives

1/1/2005 1/1/2006 1/1/2006 1/1/2006 7/1/2008

7/1/2008 6/30/2009

Amendment to PAS 39: Eligible Hedged Items PAS 40 PAS 41 Investment Property Agriculture Financial Reporting Standards for Non-publicly Accountable Entities [superseded by PFRS for SMEs] Amendment to PAS 101: Change in Effective Date
1

7/1/2009 1/1/2005 1/1/2005

PAS 101

1/1/2005 1/1/2005

As a result of the changes in terminology made by PAS 1 in 2007, the title of PAS 7 was changed to Statement of Cash Flows.
2

As a result of the changes in terminology made by PAS 1 in 2007, the title of PAS 10 was changed to Events after the Reporting Period .

Annual Improvements to PFRSs AmendmentsImprovements to PFRSs (ApprovedPAS 23, PAS 27, PAS to PAS 1, PAS 16, PAS 19, PAS 20, in 2008) 28, PAS 29, PAS 31, PAS 36, PAS 38, PAS 39, PAS 40, PAS 41 Amendments to PFRS 5 Improvements to PFRSs (Approved in 2009) Amendments to PFRS 2, PAS 38, Philippine Interpretation IFRIC9, Philippine Interpretation IFRIC16 Amendments to PFRS 5, PFRS 8, PAS 1, PAS 7, PAS 17, PAS 36, PAS 39 Amendment to PAS 18, Appendix Improvements to PFRSs (Approved for amendments to Amendments to PFRS 3, Transition requirements in 2010) PAS 21, PAS 28 and PAS 1, PFRS 7, PAS 1, PASPAS Philippine Amendments to PFRS 31 made as a result of 34, 27 (Revised) Interpretation IFRIC13

Effective Date 1/1/2009 7/1/2009 7/1/2009 1/1/2010 (N/A) 7/1/2010 1/1/2011 For BOA/PRC Approval